EchoStar to merge with DISH Network in all-stock deal at 2.85x exchange ratio

EchoStar CORP

EchoStar shareholders to receive 2.85 DISH shares per share; premium of 12.9% over unaffected 30-day VWAP.
Combined company led by Hamid Akhavan as CEO, Charles Ergen as Executive Chairman; DISH CEO Erik Carlson to depart at close.
Existing DISH shareholders will own ~69%, EchoStar shareholders ~31% of combined entity.
Majority shareholder group (Ergen) agrees not to vote DISH Class A shares for three years post-close.
Transaction subject to regulatory approvals, listing, and other conditions; expected close by Feb 8, 2024 (extendable).

item 1.01 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EchoStar CORP entered into Agreement and Plan of Merger with DISH Network Corporation (effective 2023-08-08).

Action: entry
Agreement: merger
Counterparty: DISH Network Corporation
Effective: 2023-08-08

Exact text from the filing

On August 8, 2023, EchoStar Corporation, a Nevada corporation (“EchoStar” or the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with DISH Network Corporation, a Nevada corporation (“DISH”), and Eagle Sub Corp., a Nevada corporation and a wholly owned subsidiary of DISH (“Merger Sub”).

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EchoStar CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-088606

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